Quent Capital LLC Decreases Stake in Sysco Co. (NYSE:SYY)

Quent Capital LLC reduced its position in Sysco Co. (NYSE:SYY) by 25.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,605 shares of the company’s stock after selling 541 shares during the period. Quent Capital LLC’s holdings in Sysco were worth $123,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco in the third quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco in the fourth quarter worth about $31,000. Valley Wealth Managers Inc. purchased a new stake in shares of Sysco in the third quarter worth about $31,000. Focused Wealth Management Inc purchased a new stake in shares of Sysco in the third quarter worth about $37,000. Finally, Canoe Financial LP purchased a new stake in shares of Sysco in the third quarter worth about $38,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Trading Down 0.5 %

SYY opened at $70.16 on Thursday. The stock has a market cap of $34.32 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 1.88 and a beta of 1.17. The stock’s 50 day moving average price is $75.47 and its 200-day moving average price is $75.93. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the company earned $0.89 EPS. On average, equities analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were paid a $0.51 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.91%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SYY shares. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. UBS Group decreased their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Truist Financial decreased their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Barclays decreased their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.38.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the sale, the executive vice president now owns 60,581 shares in the company, valued at $4,846,480. This represents a 26.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,270 shares of company stock valued at $6,181,946 over the last quarter. 0.54% of the stock is owned by corporate insiders.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.